MPS Limited FY26 EPS hits record ₹102.11; FY27 EBITDA guidance ₹300+ Cr
MPS Limited reported record FY26 earnings with an EPS of ₹102.11, driven by strong Q4 revenue of ₹20,516 lacs and an EBITDA margin expansion to 32.90%. The company issued FY27 EBITDA guidance exceeding ₹300 Cr, following the strategic acquisition of Unbound Medicine. While the Board opted to retain capital for growth, the merger of ADI BPO Services Limited is currently pending NCLT approval.
*this image is generated using AI for illustrative purposes only.
MPS Limited 's Board of Directors approved the audited standalone and consolidated financial results for the fourth quarter (Q4) and the financial year ended 31 March 2026. The company reported a record Basic EPS of ₹102.11 for FY26, an increase of 16.3% year-over-year. The earnings presentation highlighted a strategic evolution focused on capital efficiency and compounding growth, with the company issuing guidance for FY27 EBITDA of ₹300+ Cr.
Consolidated Financial Performance
On a consolidated basis, MPS Limited delivered strong performance for FY26. Q4 revenue stood at ₹20,516 lacs compared to ₹18,211 lacs in the same period of the previous year. Q4 EBITDA improved to ₹675M from ₹560M, with the EBITDA margin expanding to 32.90% from 30.76%. The Research segment reported a Q4 EBITDA margin of 41.59%, acting as the highest-margin engine. Total comprehensive income for the year rose to ₹20,313 lacs from ₹15,256 lacs in FY25.
| Metric: | Q4 FY26 | Q3 FY26 | Q4 FY25 | FY26 (Audited) | FY25 (Audited) |
|---|---|---|---|---|---|
| Revenue from Operations (₹ lacs): | 20,516 | 18,249 | 18,211 | 76,837 | 72,689 |
| Total Income (₹ lacs): | 21,172 | 18,458 | 18,921 | 78,395 | 73,940 |
| EBITDA (₹): | 675M | — | 560M | — | — |
| EBITDA Margin (%): | 32.90 | — | 30.76 | — | — |
| Net Profit (₹ lacs): | 4,704 | 3,550 | 4,707 | 17,322 | 14,891 |
| Basic EPS (INR): | 27.72 | 20.93 | 27.76 | 102.11 | 87.80 |
Segment Performance and Strategic Outlook
The Group operates across three business segments: Research Solutions, Education Solutions, and Corporate Learning. Research Solutions remained the anchor with reported revenue of ₹46,351 lacs, while Education Solutions accelerated as a second pillar, contributing 29.3% to the Q4 revenue mix. The company completed the acquisition of Unbound Medicine, Inc. on 9 February 2026 for a total consideration of USD 16.50 million. The Board decided not to recommend a final dividend for FY26 to support this acquisition and growth initiatives.
| Segment: | FY26 Revenue (₹ lacs) | FY25 Revenue (₹ lacs) | FY26 Segment Profit (₹ lacs) |
|---|---|---|---|
| Research Solutions: | 46,351 | 45,870 | 17,024 |
| Education Solutions: | 20,890 | 15,331 | 7,721 |
| Corporate Learning: | 9,596 | 11,488 | 1,131 |
| Total: | 76,837 | 72,689 | 25,876 |
Corporate Governance and Developments
The Board approved the re-appointment of M/s. Walker Chandiok & Co LLP as Statutory Auditors for a second term of five years, subject to shareholder approval. Additionally, M/s. KPMG Assurance and Consulting Services LLP were appointed as Internal Auditors for a term of three years. The company filed a draft Scheme of Amalgamation for the merger of ADI BPO Services Limited with MPS Limited before the NCLT, Chennai Bench. Total exceptional items for FY26 amounted to a net gain of INR 764 lacs.
Historical Stock Returns for MPS
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +12.17% | +11.40% | +2.28% | -18.32% | -26.69% | +201.92% |
How will the integration of Unbound Medicine impact MPS Limited's Education Solutions margins and revenue trajectory in FY27, given the segment's strong 28.58% organic growth?
With Corporate Learning revenue declining 16.5% YoY in FY26, what strategic initiatives is MPS considering to revive this segment, and could it become a candidate for divestiture?
Given MPS's ₹300+ Cr FY27 EBITDA guidance and its stated $800bn AI-led addressable market, what specific AI-driven product or service investments are likely to drive margin expansion beyond the current 32.90% EBITDA margin?
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